California Government Code

§ 63047

GOV § 63047 Effective Jan 1, 2022Div. 1 · Title 6.7 · Ch. 2 · Art. 5

Statute text

(a)Any loan entered into pursuant to this article may contain provisions for payment of a penalty if any recipient of funds under this article leaves this state prior to the completion of the full term of the loan.

(b)Projects that the board determines will produce long-term employment creation or retention shall receive first priority for financing.

(c)Any recipient of funds under this article that utilizes the funds for construction purposes, shall certify that the contractors are properly licensed by the Contractors’ State License Board.

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Legislative history

Amended by Stats. 2021, Ch. 356, Sec. 3. (AB 1297) Effective January 1, 2022.